Marvell Technology - MRVL Stock Forecast, Price & News

Marvell Technology, Inc., together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors. The company also provides a range of storage products comprising storage controllers for hard disk drives (HDD) and solid-state drives that support various host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, non-volatile memory express (NVMe), and NVMe over fabrics; and fiber channel products, including host bus adapters, and controllers for server and storage system connectivity. It has operations in the United States, China, Malaysia, the Philippines, Thailand, Singapore, India, Israel, Japan, South Korea, Taiwan, and Vietnam. Marvell Technology, Inc. was incorporated in 1995 and is headquartered in Wilmington, Delaware.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MRVL shares. Cowen lowered their price objective on Marvell Technology from $100.00 to $85.00 in a research report on Friday, May 27th. Bank of America lowered their price objective on Marvell Technology from $90.00 to $60.00 and set a "buy" rating for the company in a research report on Wednesday, June 29th. BMO Capital Markets lowered their price objective on Marvell Technology from $98.00 to $82.00 in a research report on Friday, May 27th. Benchmark started coverage on Marvell Technology in a research report on Wednesday, August 3rd. They set a "buy" rating and a $70.00 price target for the company. Finally, Needham & Company LLC lowered their price target on Marvell Technology from $105.00 to $75.00 in a research report on Friday, May 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-six have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $83.41.

Marvell Technology Trading Down 2.0 %

Shares of NASDAQ:MRVL opened at $54.35 on Wednesday. The stock's 50 day moving average price is $50.14 and its two-hundred day moving average price is $59.36. Marvell Technology has a 52-week low of $41.07 and a 52-week high of $93.85. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.13 and a current ratio of 1.67.

Marvell Technology (NASDAQ:MRVL - Get Rating) last posted its earnings results on Thursday, May 26th. The semiconductor company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. Marvell Technology had a positive return on equity of 6.92% and a negative net margin of 9.82%. The business's revenue was up 73.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 earnings per share. As a group, equities research analysts predict that Marvell Technology will post 1.69 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 27th. Stockholders of record on Friday, July 8th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Thursday, July 7th. Marvell Technology's dividend payout ratio (DPR) is presently -39.34%.

Insider Activity

In other news, CEO Matthew J. Murphy sold 30,000 shares of the company's stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $60.10, for a total transaction of $1,803,000.00. Following the completion of the transaction, the chief executive officer now directly owns 672,052 shares of the company's stock, valued at $40,390,325.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $60.10, for a total value of $1,803,000.00. Following the completion of the transaction, the chief executive officer now directly owns 672,052 shares of the company's stock, valued at approximately $40,390,325.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Loi Nguyen sold 872 shares of the stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $60.00, for a total value of $52,320.00. Following the completion of the transaction, the executive vice president now directly owns 207,727 shares of the company's stock, valued at $12,463,620. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,384 shares of company stock valued at $3,230,310. 0.45% of the stock is currently owned by insiders.